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Newtek Your Business Solutions Company ™ Newtek Business Services Corp. Reports Third Quarter 2021 Financial Results November 8 , 2021 Demonstrated Growth in Core Lending Products in the Third Quarter of 2021 over the Same Period in 2020 and 2019 Reconfirms Full Year 2021 Earnings Guidance BOCA RATON , Fla . , Nov. 08 , 2021 ( GLOBE NEWSWIRE ) -- Newtek Business Services Corp. ( " Newtek " or the " Company " ) ( Nasdaq : NEWT ) , an internally managed business development company ( " BDC " ) , announced today its financial and operating results for the three and nine months ended September 30 , 2021 . Third Quarter 2021 Financial Highlights • Total investment income of $ 12.4 million for the three months ended September 30 , 2021 ; a decrease of 16.7 % compared to total investment income of $ 14.9 million for the three months ended September 30 , 2020 . • Net investment income / ( loss ) of $ ( 6.7 ) million , or $ ( 0.30 ) per share , for the three months ended September 30 , 2021 ; a decrease of $ ( 0.38 ) per share compared to net investment income of $ 1.7 million , or $ 0.08 per share , for the three months ended September 30 , 2020 . 1 • Adjusted net investment income ( " ANII " ) ¹ of $ 12.6 million , or $ 0.56 per share , for the three months ended September 30 , 2021 ; an increase of 1300.0 % , on a per share basis , compared to ANII of $ 0.9 million , or $ 0.04 per share , for the three months ended September 30 , 2020 . • Debt - to - equity ratio of 1.37x at September 30 , 2021 ; proforma debt - to - equity ratio was 1.24x after taking into account the sales of government - guaranteed portions of SBA 7 ( a ) loans prior to September 30 , 2021 , which sales settled subsequent to the balance sheet date . • Total investment portfolio increased by 11.7 % to $ 712.5 million at September 30 , 2021 , from $ 637.6 million at September 30 , 2020 . • Net asset value ( " NAV " ) of $ 366.0 million , or $ 16.23 per share , at September 30 , 2021 ; an increase of 5.0 % , on a per share basis , compared to NAV of $ 15.45 per share at December 31 , 2020 . • On August 2 , 2021 , the Company announced that it entered into an agreement to acquire National Bank of New York City ( " NBNYC " ) , a nationally chartered bank , subject to certain regulatory and shareholder approvals . Nine Months Ended September 30 , 2021 Financial Highlights • Total investment income of $ 83.7 million for the nine months ended September 30 , 2021 ; an increase of 8.1 % over total investment income of $ 77.4 million for the nine months ended September 30 , 2020 . • Net investment income of $ 24.0 million , or $ 1.07 per share , for the nine months ended September 30 , 2021 , which represents a 28.2 % decrease , on a per share basis , compared to net investment income of $ 31.1 million , or $ 1.49 per share , for the nine months ended September 30 , 2020 . • ANII of $ 63.1 million , or $ 2.81 per share , for the nine months ended September 30 , 2021 ; an increase of 74.5 % , on a per share basis , compared to ANII of $ 33.8 million , or $ 1.61 per share , for the nine months ended September 30 , 2020 . 2021 Dividend Payments & 2022 Forecast • On October 20 , 2021 , the Company's board of directors declared a fourth quarter 2021 cash dividend of $ 1.05 per share payable on December 30 , 2021 to shareholders of record as of December 20 , 2021 . • The payment of the fourth quarter 2021 dividend would represent a 123.4 % increase over the fourth quarter 2020 dividend of $ 0.47 per share . • With the payment of the fourth quarter 2021 dividend , the Company will have paid $ 3.15 per share in dividends in 2021 , which would represent a 53.7 % increase over dividends paid in 2020 . • The Company forecasts a first quarter 2022 dividend of $ 0.652 per share . • On September 30 , 2021 , the Company paid a third quarter 2021 cash dividend of $ 0.90 per share to shareholders of record as of September 20 , 2021 , which represented a 55.2 % increase over the third quarter 2020 dividend of $ 0.58 per share . Lending Highlights